NOW Inc.
Extract: Charter Amended/Restated (Plain English Desc) from a 8-K on 05/21/2020   Download
SEC Document
SEC Filing

As reported in Item 5.07, on May 20, 2020, NOW Inc. (the “Company”) held its Annual Meeting of Stockholders (the “Annual Meeting”). At the Annual Meeting, the Company’s shareholders voted to approve an amendment (the “Declassification Amendment”) to the Company’s Certificate of Incorporation to declassify the Board of Directors (the “Board”) and provide for annual election of all directors, beginning with the Company’s 2021 Annual Meeting. Immediately following such vote, on May 20, 2020, the Company filed the amendment to the Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”) with the Secretary of State of the State of Delaware to effect the Declassification Amendment. Following this amendment, every director whose terms expire in or after 2021 will stand for election for one-year terms as opposed to three year terms.